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Record prices for SA wine

| Wine and liquor

Record prices were achieved at the 42nd annual Nederburg Auction at the weekend, with total sales amounting to R7 593 200.

Dalene Steyn of Nederburg Auction said in a statement on Sunday a total of 10 506 litres of wine was knocked down by auctioneers Anthony Barne MW of Bonhams and David Elswood of Christies, with total sales increasing by 23% over last year. This was in spite of a slightly lower volume on offer of 4% from the 2015 edition.

Red wine performed particularly well, with a 50% increase in the average price per litre to R961/l. The top red wine fetched an unsurpassed R9 777 per litre paid for 1976 Zonnebloem Shiraz, totalling R22 000 for 3 x 750ml bottles.

Leading the charge for South African whites was the De Wetshof Chardonnay Finesse 1993 vintage, which reached a record price of R2 000 per 750ml bottle. "It is a clear endorsement from buyers worldwide, indicating that a strong appetite exists for fine, mature South African wines and that they are willing to back it up with their wallets," said Steyn.

She said South African buyers claimed the biggest portion of wine purchases with two thirds of the sales.

“International participation however is on the increase with 3% more successful bids by international buyers, totalling 18%.”

Private buyers accounted for 22% of total sales.

Distell Group MD Richard Rushton said more and more international buyers are seeing "massive value in the quality of our wines and are happy to pay fair prices”.

Keynote speaker and British Master of Wine Tim Atkin said he had never felt more positive about the quality of South African wine. “The 2015 vintage is part of the reason why - but so are the improvements I’ve seen first hand in the vineyards and cellars of the Cape over the last 26 years. There has never been so much great South African wine available. And increasingly, these are wines with a true sense of terroir.”

Tsogo Sun was the top buyer for 2016, with a total of just over R1m, followed by the SPAR group and the Singita group of luxury lodges.

 

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